Today, BP America, Conoco Phillips, and Caterpillar have dropped out of the U. S. Climate Action Partnership. This is the first recognition by the many major corporations pushing energy-rationing legislation that cap-and-trade legislation is dead in the Congress and that the scientific case for global warming alarmism is collapsing rapidly. We hope that other major corporations will soon see the light and drop their support for cap-and-trade and other similar policies.
While these announcements are most welcome, they do not mean that we can relax our efforts to defeat and roll back energy-rationing legislation and regulations. Many policies and proposals that would raise energy prices through the roof for American consumers and destroy millions of jobs in energy-intensive industries still pose a huge threat. These include:
the EPA’s decision to regulate greenhouse gas emissions using the Clean Air Act;
efforts by environmental pressure groups to use the Endangered Species Act to stop energy production and new power plants;
the higher fuel economy standards for new passenger vehicles enacted in 2007;
presidential executive orders;
and bills in Congress to require more renewable electricity, higher energy efficiency standards for buildings, and low carbon transportation fuel standards.